GOLD eyeing $2800 long-term as inflation runs wild

2022年2月21日

This chart displays Gold (XAUUSD) along with the United States Inflation Rate (orange). The recent developments both geopolitically (Ukraine conflict) but more importantly macro-economically (inflation soaring), have put Gold back on track to its long-term bullish trend ever since it broke free of its 2012 - 2019 Bear Cycle.

As the Inflation Rate shows, we are at the stage of the first major spike (ellipse pattern), which during the past 2 Gold Cycles was seen half-way through the long-term rally (small circles).

In the previous Cycle, Gold peaked on its 1.618 Fibonacci retracement level from its prior All Time High. This Fib is currently at $2785. There's the target for long-term investors.



--------------------------------------------------------------------------------------------------------

** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **

--------------------------------------------------------------------------------------------------------